Question- will he be allowed to collect and keep the prize money? As a sitting President does the money belong to the government- like other things they get- or will he be forced to give it to charity. Who does the money actually belong to? Just curious.

LONDON — The surprise choice of first-year grad student Quintus Pfuffnick for the Nobel Prize in Economics drew praise from much of the world Friday even as many pointed out the youthful economist has not yet published anything in scholarly journals.

The new PhD candidate was hailed for his willingness to tackle difficult problems, his commitment to improving the economic system, and his goal of bringing efficiency and equality into harmony.

Professor Paul Krugman of Princeton, who won the prize in 2008, said Pfuffnick's award shows great things are expected from him in the coming years.

"In a way, it's an award coming near the beginning of the first year in grad school of a relatively young economist that anticipates an even greater contribution towards making our economy a better place for all," he said. "It is an award that speaks to the promise of Mr Pfuffnick's message of hope."

He said the prize is a "wonderful recognition of Pfuffnick's essay in his grad school application."permanent link

From the Nobel Prize Committee (via Michael Graham):"His diplomacy is founded in the concept that those who are to lead the world must do so on the basis of values and attitudes that are shared by the majority of the world's population."

There's a lot more Chinese Nationalists than Tibetans, so dissing the Dalai Lama clearly advances peace according to the committee.

In other news, President Obama has been named MVP for the upcoming World Series. Although the World Series has not yet been played, Obama was named MVP in recognition of the first pitch he threw when the Washington Nationals played last year's World Series Champion Philadelphia Phillies.

Obama was considered to be preemptively named World Series Champion himself, but was disqualified because he is a one-man team.

White House spokesman Robert Gibbs said the President humbly accepted the decision of the baseball commissioner.

@Henry You wrote:His diplomacy is founded in the concept that those who are to lead the world must do so on the basis of values and attitudes that are shared by the majority of the world's population."

Just remember, you guys still back Dick Cheney, who might wind up tried and convicted as a war criminal one day. And now the guy you voted against, and who you bash all day, every day over everything he says or does, has won the peace prize. Maybe some of you are just evil!

The smart move by President Obama would be to thank the Nobel Committee and decline the award--saying he wants to actually acheive progress before being honored. That would be gracious, humble and smart politics (both domestic and international).

The Michael Moore of OsloJohn Podhoretz - 10.09.2009 - 10:06 AM I can’t agree with my colleagues here on CONTENTIONS that a) Barack Obama should reject the Nobel Peace Prize or b) be embarrassed by it. The Nobel Committee chose him wisely because he does, in fact, represent the organization’s highest ideals.

He is an American president queasy about the projection of American power. He is an American president who rejects the notion of American exceptionalism. He is an American president eagerly in pursuit of legitimacy to be granted him not by those who voted for him but by those who do not cast a vote and who chafe at American leadership. It is his devout wish that America become one of many nations, influencing the world indirectly or not influencing it at all, rather than “the indispensable nation,” as Madeleine Albright characterized it. He is the encapsulation, the representative, the wish fulfillment, the very embodiment, of the multilateralist impulse. He is, almost literally, a dream come true for the sorts of people who treasure and value the Nobel Peace Prize.

It’s the most obvious choice, once you think about it, since Michael Moore won an Oscar for Fahrenheit 9/11.

The smart move by President Obama would be to thank the Nobel Committee and decline the award--saying he wants to actually acheive progress before being honored. That would be gracious, humble and smart politics (both domestic and international).

My guess is he does not do that.

Exactly. But I don't think he has the character to do such a thing.

The Nobel Committee may have thought they were giving Obama an honour, but what they have done is make him the laughing stock of the world. And this on top of his failure in Copenhagen.

Wait!.....maybe it is a double blind. They give him the honour to make him look even more foolish, narcissistic and weak.